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SocietyOne

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Don't let those old Christmas and holiday bills get the better of you: here's how to make a full recovery. 
Stay in touch with the latest in Peer-to-Peer lending with news and updates from Australia & around the world through SocietyOne's company blog.
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Matt Symons catches up with Finsia CEO & Managing Director Russell Thomas to discuss digital disruption and financial innovation ahead of his keynote presentation at Finsia's Annual Conference. 
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Get ready for MoneySmart Week 1-7 September, Australia’s biggest financial literacy initiative. Sign up for your MoneySmart Week challenge today and follow all the events on #MSW14. 
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Founders of some of Australia’s most successful technology companies believe financial services - and the banks "super profits" - are the most vulnerable to disruption by new technologies.  
Big banks beware. Your "insane" profits - estimated at $29 billion this year - are in the sights of some of Australia's most ambitious technology entrepreneurs.
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StartupSmart looks at how SocietyOne is staying ahead of the pack providing investors and borrowers a better deal. 
Peer-to-peer lender SocietyOne will launch one of Australia's lowest interest rates for personal loans. It's Australia's only peer-to-peer lender and its personal loan rate for a prime borrower is 9.80% pa, 5% lower than the average rate from the major banks. The loan rate will be available from ...
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Great piece by Money Morning Australia on P2P lending and how this technological innovation can bring investors and borrowers a better deal. 
 
"P2P lending is revolutionising the consumer credit industry. And the technology and willingness to run this service has only existed for a few years…"

By small-cap analyst, Tim Dohrmann:

#p2plending   #newtechnology   #newtechnology2014  
P2P lending is revolutionising the consumer credit industry. And the technology and willingness to run this service has only existed for a few years...
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SocietyOne

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And that's a wrap! Matt Symons gives the closing presentation on the disruptive impact of financial innovation at the Australian Retail Credit Association's 2014 National conference in Brisbane. 
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Double Trouble for the Banks: Apple Pay and Peer-to-Peer lending.
The transformation of the industry is well underway. 
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Great credit card tips from the good people at MyBudget. 
 
10 Things You NEED to Know About Credit Cards

Fiction 1: Credit cards are “designed to suit a range of lifestyle and financial needs” (quote from bank website.)
Fact: First and foremost. credit cards are designed to make money for the bank. Your debt is their profit. They want you to spend up to your credit limit, make just the minimum monthly repayment, increase your credit limit over time and buy other products they offer you.
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Fiction 2: Only careless people get into credit card trouble.
Fact: Credit card stress can happen to anyone. I’ve seen plenty of careful people whose hours got cut at work, or they had an accident, lost their job or had other expenses crop up. Suddenly, their debt became unmanageable and they found themselves falling further behind every month.
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Fiction 3: Credit cards are more convenient and secure than cash.
Fact: You can have the same convenience and security using a debit card that draws cash directly from your account. In fact, most debit cards carry the Visa or MasterCard symbol, which means they can be used in all the same situations as a credit card, but without the risk of interest charges.
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Fiction 4: With a credit card I can keep track of all of my purchases.
Fact: In reality, most people are busy and lose track of their spending more easily when they use a card. Bill shock at the end of the month is not uncommon. Cash is a much better way to keep track of your budget because it’s a visual reminder in your pocket of how much you’ve spent and how much you have left.
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Fiction 5: A credit card comes in handy for emergencies.
Fact: You don’t need a credit card for emergencies—you need savings. Make sure you’re putting money from every pay into a bank account that you keep just for emergencies. Your aim should be to save up the equivalent of about six months’ salary. Don’t worry if your savings start out small; they’ll add up over time.
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Fiction 6: I can save money by buying things on sale when I see them.
Fact: The average discount on retail sales items is about 25 percent, while the average credit card interest rate is around 22 percent per annum. If you’re paying interest on your purchases, any discounts are quickly eaten up by interest charges.
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Fiction 7: I need a credit card to develop a good credit rating.
Fact: A credit card is not the only way to develop a positive credit history. You can enhance your credit rating just by paying your bills on time and by saving regularly.
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Fiction 8: Credit cards are an indicator of wealth and success.
Fact: “Wealth” and “symbols of wealth” are not the same thing. It’s unfortunate that people who appear to be wealthy are often heavily in debt. The true path to wealth is to live within your means.
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Fiction 9: I need a credit card for online purchases.
Fact: You can use a debit card for online shopping and booking hotels—just make sure you get a one that carries the Visa or Mastercard logo. You may need to ask your bank to replace your old ATM card with a debit card instead.
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Fiction 10: I can get free flights and rewards by using a credit card.
Fact: Loyalty programs come at a cost. Firstly, there are usually hefty annual card fees. Secondly, the rewards are not free if you’re paying interest on your purchases. A $3000 credit card balance at 20% per annum will incur $600 a year in interest charges. Suddenly the rewards don’t look so rewarding.

Author +Tammy May 
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AB+F reports SocietyOne could prove disruptive to the personal loan market as it looks to transform personal finance.
SocietyOne set to transform personal finance. By introducing peer-to-peer lending to Australia, SocietyOne could prove far more disruptive to the personal loan market than the likes of Aussie Home Loans were to the home loan market. SocietyOne's business model is based on attracting the most ...
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It's Peer-to-Peer lending: we try harder. 
IN AN ENORMOUS shed on the banks of the Yangtze, China’s longest river, a remote-controlled blowtorch cuts through a thick sheet of steel. A fountain of sparks...
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Take advantage our new rate discount and $0 fee offer!
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People
Have them in circles
108 people
Dan Zeng's profile photo
Fawaz Ahmed's profile photo
Warren Eades's profile photo
Danny Edebohls Property Sales's profile photo
CarsGuide.com.au's profile photo
Radoslav Albrecht (Radko)'s profile photo
Jen Wilson's profile photo
Kris Sayce's profile photo
David Boyd's profile photo
Contact Information
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Phone
1300 144221
Email
Address
60 Castlereagh Street Sydney, NSW 2001 Australia
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The only one for peer-to-peer personal loans.
Introduction

SocietyOne shakes up the personal loan by cutting out the banks and giving individuals the opportunity to invest in and borrow from each other directly. Peer-to-Peer lending means no banks, and less hassle. Thanks to a 100% online process, personal loan applications with SocietyOne are fast, easy and paperless. We cut the cost of traditional lending and pass the savings directly to borrowers and investors. Borrowers with good credit get better rates and savvy investors get more attractive rates of return. It's that simple.